The Local Switzerland

Swiss luxury giant Richemont sees profits halved on watch woes

Sat, 13 May 2017 17:16:58 +0200

Swiss luxury goods giant Richemont said Friday its full-year net profit was nearly cut in two as sales of high-end watches ticked lower.

Why a Swiss company created a watch made from cheese

Fri, 13 Jan 2017 09:59:10 +0100

A Swiss watchmaker on Thursday unveiled a one-million-euro "Swiss Mad" wristwatch with a case made of local winter cheese and a dial recalling the nation's distinctive red-and-white flag.

Sufficiently Swiss: at least 60% for watches

Sat, 18 Jun 2016 10:03:50 +0200

Switzerland adopted regulations on Friday requiring that locally-made parts account for at least 60 percent by value in order for watches to bear the coveted and lucrative "Swiss Made" label.

Mystery stomach bug hits Swiss watch capital

Sat, 25 Jul 2015 16:20:14 +0200

Residents of the Swiss city of Le Locle, world famous for its watch production, have been laid low by a nasty infection with authorities warning people not to drink the water.

Blaze destroys Swatch factory in Grenchen

Mon, 30 Dec 2013 12:24:00 +0100

A fire broke out at the ETA watch manufacturing unit in Grenchen, northern Switzerland, on Sunday causing considerable damage and threatening production delays.

Swiss watchmakers find more time for China

Mon, 12 Nov 2012 13:17:00 +0100

With the Chinese increasingly coveting European luxury goods, Swiss watchmakers are eyeing a huge new market for their wares, but disagree on the best way of capturing it.

Asian luxury market boosts Richemont profits

Wed, 16 May 2012 16:33:00 +0200

Swiss luxury goods group Richemont posted a steep rise in annual net profit on Wednesday as Asian demand for watches and jewellery showed no signs of abating.

Watch exports making Swiss trade tick

Thu, 22 Mar 2012 10:26:00 +0100

Switzerland's trade surplus reached 2.7 billion francs ($3.0 billion) in February, up from the 1.6
billion francs in January, with the watch industry leading export growth.

Hublot unveils world's most expensive watch

Sun, 11 Mar 2012 20:50:00 +0100

Swiss watchmaker Hublot unveiled on Wednesday the world's most expensive watch with a price tag of $5 million and inlaid with more than 1,200 diamonds, including six stones of more than 3 carats each.

What crisis? Swiss watch makers eye record 2012

Thu, 08 Mar 2012 09:47:00 +0100

The world's biggest watch fair is set to open in an optimistic mood, with Swiss watchmakers -- the industry's barometer -- expecting 2012 demand to beat 2011's, when exports hit a record.

Watch makers gear up for world's biggest fair

Mon, 05 Mar 2012 16:01:00 +0100

The world's biggest watch event opens in Basel this week on the back of a bumper year thanks to Asian demand for luxury timepieces.

Swatch predicts strong growth in 2012

Fri, 02 Mar 2012 11:22:00 +0100

The world's biggest watch group Swatch on Thursday forecast 2012 sales growth of between five and ten percent.

Police identify brain behind diamond theft

Fri, 24 Feb 2012 18:43:00 +0100

Swiss police say they have identified the man who organized a spectacular 8 million franc ($8.9 million) diamond robbery last year from the world's biggest watch and jewellery event in Basel.

Cash ticking in for Swatch as profits soar

Tue, 07 Feb 2012 15:08:00 +0100

The world's biggest watch group Swatch said on Tuesday its net profits jumped 18.1 percent to 1.3 billion francs ($1.4 billion) in 2011 and it expected to sustain growth this year.

Swiss watch exports hit record $21 billion

Thu, 02 Feb 2012 18:15:00 +0100

Swiss watch exports shrugged off the impact of a strong franc to hit a record 19.3 billion francs ($21
billion) in 2011, the Federation of the Swiss Watch Industry said on Thursday.

Chinese demand fuels Swiss watch success

Mon, 28 Nov 2011 11:04:00 +0100

The Swiss watch industry is in rude health, the latest figures show, with exports leaping once again last month and watchmakers set to notch up a record year thanks to hungry Chinese consumers.

James Bond watch sells for $198,000

Tue, 15 Nov 2011 10:18:00 +0100

A Rolex watch worn by Roger Moore in the James Bond film "Live and Let Die" -- complete with rotating saw and bullet deflector -- fetched 180,000 Swiss francs ($198,000) at auction on Monday.

Swiss watch industry running like clockwork

Tue, 11 Oct 2011 19:49:00 +0200

Swiss watchmakers are expecting record sales for 2011, the industry federation's chief Jean-Daniel Pasche said in an interview published Tuesday.

Swiss central bank should curb franc's rise: Swatch chief

Mon, 01 Aug 2011 19:15:14 +0200

The head of watchmaker Swatch on Sunday urged Switzerland's central bank to take measures to curb the appreciation of the Swiss franc, now at record heights against the euro and dollar.

Swatch reports record first-half profit and sales

Thu, 28 Jul 2011 12:08:00 +0200

The world's biggest watch group Swatch said on Thursday its first half net profits soared 24.5 percent to 579 million francs ($722 million), setting a fresh record for the company.